Patria Investments Limited logo PAX - Patria Investments Limited

Price: -- -- | CONSENSUS: Buy DETAILS
STRONG
BUY
0
BUY 3
HOLD 2
SELL 0
STRONG
SELL
0
| PRICE TARGET: $18.00 DETAILS
HIGH: $18.00
LOW: $18.00
MEDIAN: $18.00
CONSENSUS: $18.00
UPSIDE: 63.34%
Metric 2026 Q1 2025 Q4 2025 Q3 2025 Q2 2025 Q1 2024 Q4 2024 Q3 2024 Q2 2024 Q1 2023 Q4 2023 Q3 2023 Q2 2023 Q1 2022 Q4 2022 Q3 2022 Q2 2022 Q1 2021 Q4 2021 Q3 2021 Q2 2021 Q1 2020 Q4 2020 Q3 2020 Q2 2020 Q1 2019 Q4
Revenue
Revenue 98.2 134.4 86.5 82.5 79.6 157.2 78.1 75.0 63.8 111.7 63.5 78.6 73.8 91.3 57.0 55.6 55.0 46.2 39.7 119.0 30.6 31.8 33.1 24.6 25.5 35.2
Cost of Revenue 20 12.1 14.8 14.6 14.2 13.5 14.2 12.1 18.4 8.7 10.2 10.1 9.8 (46.5) 9.2 8.4 8.2 16.5 15.2 43.2 12.0 7.2 10.0 7.6 8.5 8.8
Gross Profit 78.2 122.3 71.6 67.9 65.4 143.7 63.9 62.9 45.4 103.1 53.4 68.5 63.9 137.7 47.8 47.2 46.8 29.7 24.5 75.8 18.6 24.5 23.2 17.0 17.0 26.4
Operating Expenses
R&D Expenses 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
SG&A Expenses 0 7.5 28.7 26.8 24.5 51.6 26.8 26.9 9.2 40.3 15.5 22.4 21.2 53.8 13.8 16.6 15.2 4.2 2.3 3.3 1.9 5.3 2.4 2.7 2.2 5.1
Other Expenses 52.6 65.5 12.4 11.0 11.5 12.4 9.2 8.0 6.1 7.4 7.4 6.9 6.2 16.0 5.3 5.2 5.6 0.9 0.6 0.5 0.5 0.5 0.5 0.4 0.5 0.7
Operating Expenses 52.6 73 41.1 37.8 36.0 64.0 36.0 34.9 15.3 47.7 22.9 29.3 27.4 69.8 19.0 21.8 20.7 5.1 3.0 3.8 2.4 5.8 2.9 3.1 2.7 5.8
Operating Income
Operating Income 25.6 49.3 30.5 30.1 29.4 79.7 27.9 28.1 30.1 55.3 30.5 39.3 36.6 68.0 28.8 25.5 26.1 24.6 21.5 72.1 16.2 18.8 20.3 13.9 14.3 20.6
Interest Expense 16.4 0 5.1 4.0 7.0 3.6 3.8 3.3 0.3 0.3 0.3 0.3 0.3 0.5 0.5 0.4 0.3 0.2 0.3 0.3 0.2 0.2 0.2 0.2 0.3 0
Interest Income 0 (11.3) 3.1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0.0 0.0 0 0 0 0 0.0 0.1
Profitability
EBITDA 34.9 49.3 41.9 29.7 32.8 68.3 22.7 14.1 37.3 58.2 25.8 35.4 27.0 65.3 21.1 21.1 28.0 18.2 22.9 74.5 15.8 18.6 22.0 15.8 17.2 22.7
EBIT 25.6 49.3 29.6 18.9 21.6 56.2 13.9 6.4 30.1 51.0 18.6 28.7 21.0 49.5 16.0 16.0 22.8 15.3 20.9 72.5 13.8 16.7 20.1 13.9 15.2 20.6
Income Before Tax 9.2 38.1 24.6 14.9 14.6 52.6 10.2 3.2 20 50.7 18.3 28.3 20.7 49.0 15.4 15.6 22.5 15.1 20.7 72.2 13.6 16.5 19.9 13.7 14.9 20.3
Income Tax Expense 4.6 2.5 0.4 0.8 (2.0) (2.8) 8.3 0.6 4.2 2.3 (0.6) (7.7) 3.1 2.3 2.2 (0.3) 4.2 1.9 (0.9) (1.2) 0.5 0.1 (0.1) 0.5 2.6 0.8
Net Income 2.3 34.5 22.5 12.9 15.7 55.3 0.5 0.7 15.4 47.0 18.5 35.7 17.2 46.5 12.2 15.9 18.3 13.2 21.5 73.4 14.3 15.6 20.6 13.9 12.2 18.7
Per Share Data
EPS (Basic) 0.01 0.22 0.15 0.08 0.09 0.37 0.01 0.01 0.10 0.32 0.12 0.24 0.12 0.32 0.08 0.11 0.12 0.09 0.16 0.54 0.11 0.12 0.18 0.12 0.10 0.16
EPS (Diluted) 0.01 0.22 0.15 0.08 0.09 0.37 0.01 0.01 0.10 0.31 0.12 0.24 0.12 0.32 0.08 0.11 0.12 0.09 0.16 0.54 0.11 0.12 0.18 0.12 0.10 0.16
Shares Outstanding 159.1 158.0 153.4 158.1 158.1 153.6 152.7 151.4 150.2 148.3 148.2 148.2 147.5 147.2 147.2 147.2 147.2 139.9 136.1 133.9 136.1 133.7 117 117 117 117
Metric 2026 Q1 2025 Q4 2025 Q3 2025 Q2 2025 Q1 2024 Q4 2024 Q3 2024 Q2 2024 Q1 2023 Q4 2023 Q3 2023 Q2 2023 Q1 2022 Q4 2022 Q3 2022 Q2 2022 Q1 2021 Q4 2021 Q3 2021 Q2 2021 Q1 2020 Q4 2020 Q3 2020 Q1 2019 Q4
Current Assets
Cash & Cash Equivalents 50.9 53.6 30.3 28.5 36.1 33.4 38.3 28.9 27.0 16.1 17.5 22.4 30.8 26.5 25.8 16.4 12.9 15.3 44.3 25.2 28.7 14.1 39.7 (37.1) 4.1
Short-Term Investments 36 35.1 22.0 81.2 14.6 5.0 9.7 17.8 6.9 17.2 21.6 24.9 10.5 45.5 77.3 88.2 136.0 151.9 250.8 286.3 300.4 9.9 13.4 74.3 33.0
Net Receivables 346.8 138.7 97.0 90.2 172.1 227.1 131.9 126.3 132.6 134.6 118.9 115.7 147.6 132.2 89.9 84.5 98.7 110.7 119.9 111.9 23.6 24.7 5.8 0 11.5
Inventory 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
Other Current Assets 0 153.4 67.1 84.7 148.3 86.8 234.1 129.0 209.0 206.8 193.5 198.6 260.1 263.3 281.9 291.3 82.1 68.0 0.9 0.7 0.3 0.9 0.5 0 0.5
Total Current Assets 433.7 405.3 245.3 312.2 397.2 372.7 437.9 333.8 401.0 401.6 372.4 377.8 462.3 479.6 489.0 492.9 338.2 352.3 421.4 428.2 355.5 53.7 63.1 37.1 56.8
Non-Current Assets
Property, Plant & Equipment 44.4 44.9 43.3 41.0 37.6 34.9 30.0 29.7 30.4 30.2 25.6 27.3 27.1 26.4 26.6 21.0 19.7 16.5 4.0 4.3 4.3 4.0 4.0 0 6.6
Goodwill 0 440.1 434.6 432.7 424.1 356.0 380.2 366.3 303.9 311.2 295.0 304.6 287.8 276.8 248.6 236.3 249.6 242.9 0 0 0 0 0 0 0
Intangible Assets 959.9 384.0 394.8 362.4 353.0 344.9 370.2 346.4 169.6 175.8 143.4 146.3 134.8 134.7 124.4 103.5 116.7 116.0 18.3 19.3 21.4 22.4 23.7 0 25.5
Long-Term Investments 53.8 44.6 46.0 62.7 59.9 50.0 48.4 49.3 52.6 58.6 54.1 55.2 62.7 43.2 47.0 32.2 34.3 18.3 7.9 8.6 8.0 2.0 2.6 0 3.7
Other Non-Current Assets 221.5 155.5 140.8 88.6 47.7 31.8 64.9 38.6 82.1 18.7 24.9 27.3 25.1 13.7 17.8 12.3 249.0 11.9 22.9 22.9 22.7 22.9 34.0 (37.1) 16.3
Total Non-Current Assets 1,299.4 1,089.8 1,080.2 1,005.8 936.8 833.4 907.6 848.2 652.9 610.0 557.2 571.6 537.5 496.6 466.6 407.8 670.5 409.0 57.1 58.2 58.0 53.5 66.9 (37.1) 58.0
Total Assets 1,733.1 1,495.1 1,325.5 1,318.0 1,334.0 1,206.1 1,345.5 1,182.0 1,053.9 1,011.6 929.6 949.4 999.8 976.2 955.6 900.7 1,008.7 761.3 478.5 486.4 413.5 107.2 130.0 0 114.9
Current Liabilities
Account Payables 0 58.8 48.9 34.6 66.3 41.8 26.2 12.2 6.8 4.8 7.1 4.1 5.1 3.3 3.1 4.9 4.2 7.2 4.1 4.4 4.5 3.0 0.7 0 0.5
Short-Term Debt 255.1 0 41.4 85.0 42 78.5 16.1 28.3 10.5 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
Deferred Revenue 0 0 29.8 0 30.9 0 28.0 0 29.4 0 29.3 0 30.2 0 30.6 0 30.4 0 29.1 0.6 23.7 1.7 21.1 0 0.9
Other Current Liabilities 0 168.5 74.8 127.7 141.5 107.5 225.3 178.6 281.4 295.8 198.9 193.9 250.1 259.1 251.5 246.7 17.3 36.1 20.1 15.5 8.5 13.8 10.2 0 12.8
Total Current Liabilities 255.1 415.0 356.6 401.9 410.8 397.4 481.7 378.1 405.4 397.5 316.0 281.2 365.4 338 347.6 313.9 166.2 156.2 85.6 52.4 39.5 44.0 34.6 0 19.0
Non-Current Liabilities
Long-Term Debt 0 174.9 104.9 76 150.3 149.5 149.3 148.8 73.4 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
Deferred Tax Liabilities 51 52.4 52.3 50.6 49.9 1.8 2.5 2.9 0 0 0 0 0.2 0 0 0 0 0 0.5 0.2 0.2 0.2 0.3 0 0.4
Other Non-Current Liabilities 572.7 200.0 188.3 180.8 148.2 147.8 214.1 153.7 62.7 79.9 127.5 146.9 125.5 110.9 119.7 44.5 261.9 33.9 3.4 2.8 2.7 3.1 4.1 0 4.8
Total Non-Current Liabilities 856.3 446.7 365.8 327.3 367.0 317.8 380.2 319.2 150.2 92.7 140.3 161.1 140.0 124.8 133.5 53.3 269.2 40.8 4.7 4.0 4.1 4.1 5.3 0 7.1
Total Liabilities 1,111.4 861.7 722.4 729.2 777.8 715.2 861.9 697.4 555.6 490.2 456.3 442.2 505.4 462.8 481.1 367.2 435.3 197.0 90.3 56.3 43.6 48.1 39.9 0 26.1
Stockholders' Equity
Common Stock 0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0 0.0
Retained Earnings 0 0 0 0 0 0 0 0 6.4 50.8 33.3 51.9 49.5 77.6 56.2 68.9 82.7 87.9 93.8 135.3 76.3 62.0 96.2 0 85.5
Accumulated Other Comprehensive Income 58.5 22.3 7.6 (5.0) (27.6) (46.2) (17.0) (19.1) (29.6) (9.1) (14.4) 3.8 4.5 (10.0) (24.8) (20.6) 5.5 (8.9) (6.0) (5.6) (6.0) (6.2) (7.9) 81.2 (5.9)
Total Stockholders' Equity 603.2 611.8 586.4 575.1 545.5 481.1 475.3 514.8 514.9 542.5 514.2 551.1 539.2 552.8 516.6 533.5 573.4 564.3 388.2 430.1 370.3 57.3 89.9 88.7 81.2
Total Liabilities & Equity 1,733.1 1,495.1 1,325.5 1,318.0 1,334.0 1,206.1 1,345.5 1,182.0 1,053.9 1,011.6 929.6 949.4 999.8 976.2 955.6 900.7 1,008.7 761.3 478.5 486.4 413.5 107.2 130.0 88.7 114.9
Debt Metrics
Total Debt 255.1 198.7 171.2 186.7 214.9 250.4 183.1 194.3 101.2 15.8 15.6 17.0 16.8 16.1 15.6 10.0 8.8 7.9 1.7 2.0 2.2 1.6 1.7 0 3.1
Net Debt 204.2 145.1 140.9 158.2 178.8 217.0 144.8 165.4 74.2 (0.2) (1.9) (5.4) (13.9) (10.4) (10.2) (6.4) (4.1) (7.4) (42.6) (23.2) (26.6) (12.5) (38.0) 37.1 (1.0)
Metric 2025 Q4 2025 Q3 2025 Q2 2025 Q1 2024 Q4 2024 Q3 2024 Q2 2024 Q1 2023 Q4 2023 Q3 2023 Q2 2023 Q1 2022 Q4 2022 Q3 2022 Q2 2022 Q1 2021 Q4 2021 Q3 2021 Q2 2021 Q1 2020 Q4 2020 Q3 2020 Q2 2020 Q1 2019 Q4
Operating Activities
Net Income 34.5 22.5 12.9 16.6 55.4 0.5 2.5 15.9 48.4 18.8 36.0 17.6 46.7 13.2 15.9 18.3 13.2 21.5 73.4 13.1 16.3 20.6 13.2 12.4 19.6
Depreciation & Amortization 0 0 7.7 11.2 12.1 8.8 7.7 7.2 7.2 7.2 6.7 6.0 5.7 5.1 5.1 5.2 1.2 1.9 2.0 2.0 1.9 1.9 1.9 2.0 2.1
Stock-Based Compensation 0 0 3.9 3.6 6.4 6.5 5.7 0.4 0.5 0.2 0.5 0.3 0.2 0.2 0.1 0.2 (0.7) 0.1 0.9 (0.1) (0.4) 0 0 0 (0.3)
Change in Working Capital (22.7) 29.0 43.6 63.3 (57.9) 31.0 (11.5) 16.6 (5.7) 24.1 (0.7) 0.3 (46.3) 33.0 (11.7) 1.6 40.7 24.6 (76.6) 17.6 (25.3) (2.0) (15.5) 2.7 (24.8)
Other Non-Cash Items 24.2 14.4 8.8 7.3 9.8 21.6 4.6 (2.4) (13.3) (4.5) 7.9 2.0 (18.0) 2.7 (1.5) (3.2) (26.4) 0.5 (1.3) 1.5 0.8 20.2 0.1 (1.2) (1.4)
Operating Cash Flow 36.0 65.9 76.9 100.1 25.9 68.4 9.7 41.9 39.4 45.3 42.7 29.3 (9.3) 56.4 7.7 26.3 28.0 47.8 (2.9) 34.6 (6.6) 40.7 0.2 18.4 (4.2)
Investing Activities
Capital Expenditure (3.7) (2.3) (2.5) (2.3) (2.9) (0.1) (2.2) (1.8) (6.9) (7.2) (0.4) (0.6) 3.4 (5.0) (3.1) (1.4) (1.0) (0.8) (0.1) (0.2) 0.1 (0.0) (0.2) (0.1) (0.1)
Acquisitions 0 0 0 (1.1) (0.1) 0.3 (52.5) (60.2) (5.3) 4.4 (6.1) (0.1) (8.1) (26.7) (16.4) (7.8) (122.8) 0.4 0 0.2 0 0 0 0 (0.1)
Purchases of Investments 0 0 (47.5) (9.1) 0.9 (3.8) (2.0) (1.2) (0.5) 2.9 2.0 (14.3) (231.8) 157.1 (171.6) (2.6) 0 35.4 14.2 (297.3) 0 0 0 0 (12.7)
Sales/Maturities of Investments 0 0 19.4 3.3 5.0 6.5 (10.4) 10.5 4.9 (61.7) 51.8 36.0 34.7 74.2 (17.9) 17.9 0 0.3 0.0 0.2 5.2 0 1.7 20.5 (8.2)
Other Investing Activities (18.6) 62.3 (1.5) (0.3) (1.7) (2.8) 141.1 (0.8) (2.9) 64.0 (0.1) 0.1 236.2 (220.5) 236.9 (236.9) 87.9 (0.4) 0.1 (0.2) 1.2 (4.8) (0.2) (0.0) 0.1
Investing Cash Flow (18.6) 62.3 (32.0) (9.4) 2.1 0.2 75.8 (52.8) (8.6) 2.4 47.2 21.2 34.4 (20.8) 27.9 (230.9) (35.9) 34.8 14.2 (297.4) 6.5 (4.9) 1.5 20.4 (21.0)
Financing Activities
Net Debt Issuance 28.1 (16.7) (30.5) (36.6) 53.9 (15.8) 90.7 83.9 (1.8) (0.9) (0.5) (0.2) (0.4) (0.5) (0.4) (0.4) (0.2) (0.2) (0.2) (0.2) (0.3) (0.1) (0.2) (0.2) (0.3)
Stock Repurchased 0 (56.2) 0 0 0 0 0 0 0 (0.9) (65.2) 0 0 0 0 0 0 0 0 0 0 0 0 0 0
Dividends Paid (23.9) (23.9) (23.7) (23.6) (23.0) (22.9) (26.6) (59.9) (29.4) (37.1) (33.3) (45.3) (25.2) (24.9) (29.7) (23.6) (19.1) (63.0) (14.4) (23.3) (25) 3.6 (39.5) 0 0
Other Financing Activities (2.3) (29.3) (2.5) (30.0) (61.3) (21.2) (147.2) (1.5) (1.4) (13.7) 0.8 (1.6) (0.5) (0.5) (0.4) (5) (1.7) (0.3) (0.3) (2.0) (0.3) (3.7) (0.2) (0.3) (0.2)
Financing Cash Flow 5.0 (126.1) (53.3) (90.1) (31.1) (60.0) (83.1) 22.5 (32.6) (51.6) (98.2) (47.2) (26.1) (25.9) (30.5) 201.1 (21.0) (63.5) (14.9) 277.3 (25.6) (0.3) (39.9) (0.5) (0.5)
Cash Position
Net Change in Cash 23.3 1.8 (7.5) 2.7 (4.9) 9.4 2.0 10.9 (1.5) (4.8) (8.4) 4.2 0.7 9.4 3.5 (2.4) (29.0) 19.1 (3.5) 14.7 (25.6) 36.0 (38.4) 38.0 (25.8)
Cash at Beginning 30.3 28.5 36.1 33.4 38.3 28.9 27.0 16.1 17.5 22.4 30.8 26.5 25.8 16.4 12.9 15.3 44.3 25.2 28.7 14.1 39.7 3.7 42.1 4.1 29.9
Cash at End 53.6 30.3 28.5 36.1 33.4 38.3 28.9 27.0 16.1 17.5 22.4 30.8 26.5 25.8 16.4 12.9 15.3 44.3 25.2 28.7 14.1 39.7 3.7 42.1 4.1
Free Cash Flow 32.3 63.6 74.4 97.8 23.1 68.3 7.4 40.1 32.6 38.2 42.2 28.7 (5.9) 51.5 4.6 24.9 27.0 47.0 (2.9) 34.3 (6.5) 40.7 (0.0) 18.3 (4.2)
Key Metrics 2026 Q1 2025 Q4 2025 Q3 2025 Q2 2025 Q1 2024 Q4 2024 Q3 2024 Q2 2024 Q1 2023 Q4 2023 Q3 2023 Q2 2023 Q1 2022 Q4 2022 Q3 2022 Q2 2022 Q1 2021 Q4 2021 Q3 2021 Q2 2021 Q1 2020 Q4 2020 Q3 2020 Q2 2020 Q1 2019 Q4
Income Statement
Revenue 98.2 134.4 86.5 82.5 79.6 157.2 78.1 75.0 63.8 111.7 63.5 78.6 73.8 91.3 57.0 55.6 55.0 46.2 39.7 119.0 30.6 31.8 33.1 24.6 25.5 35.2
Gross Profit 78.2 122.3 71.6 67.9 65.4 143.7 63.9 62.9 45.4 103.1 53.4 68.5 63.9 137.7 47.8 47.2 46.8 29.7 24.5 75.8 18.6 24.5 23.2 17.0 17.0 26.4
Operating Income 25.6 49.3 30.5 30.1 29.4 79.7 27.9 28.1 30.1 55.3 30.5 39.3 36.6 68.0 28.8 25.5 26.1 24.6 21.5 72.1 16.2 18.8 20.3 13.9 14.3 20.6
Net Income 2.3 34.5 22.5 12.9 15.7 55.3 0.5 0.7 15.4 47.0 18.5 35.7 17.2 46.5 12.2 15.9 18.3 13.2 21.5 73.4 14.3 15.6 20.6 13.9 12.2 18.7
EPS (Diluted) 0.01 0.22 0.15 0.08 0.09 0.37 0.01 0.01 0.10 0.31 0.12 0.24 0.12 0.32 0.08 0.11 0.12 0.09 0.16 0.54 0.11 0.12 0.18 0.12 0.10 0.16
Balance Sheet
Cash & Equivalents 50.9 53.6 30.3 28.5 36.1 33.4 38.3 28.9 27.0 16.1 17.5 22.4 30.8 26.5 25.8 16.4 12.9 15.3 44.3 25.2 28.7 14.1 39.7 (37.1) 4.1
Total Assets 1,733.1 1,495.1 1,325.5 1,318.0 1,334.0 1,206.1 1,345.5 1,182.0 1,053.9 1,011.6 929.6 949.4 999.8 976.2 955.6 900.7 1,008.7 761.3 478.5 486.4 413.5 107.2 130.0 0 114.9
Total Debt 255.1 198.7 171.2 186.7 214.9 250.4 183.1 194.3 101.2 15.8 15.6 17.0 16.8 16.1 15.6 10.0 8.8 7.9 1.7 2.0 2.2 1.6 1.7 0 3.1
Stockholders' Equity 603.2 611.8 586.4 575.1 545.5 481.1 475.3 514.8 514.9 542.5 514.2 551.1 539.2 552.8 516.6 533.5 573.4 564.3 388.2 430.1 370.3 57.3 89.9 88.7 81.2
Cash Flow
Operating Cash Flow 36.0 65.9 76.9 100.1 25.9 68.4 9.7 41.9 39.4 45.3 42.7 29.3 (9.3) 56.4 7.7 26.3 28.0 47.8 (2.9) 34.6 (6.6) 40.7 0.2 18.4 (4.2)
Capital Expenditure (3.7) (2.3) (2.5) (2.3) (2.9) (0.1) (2.2) (1.8) (6.9) (7.2) (0.4) (0.6) 3.4 (5.0) (3.1) (1.4) (1.0) (0.8) (0.1) (0.2) 0.1 (0.0) (0.2) (0.1) (0.1)
Free Cash Flow 32.3 63.6 74.4 97.8 23.1 68.3 7.4 40.1 32.6 38.2 42.2 28.7 (5.9) 51.5 4.6 24.9 27.0 47.0 (2.9) 34.3 (6.5) 40.7 (0.0) 18.3 (4.2)